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how do I lower CA initial offer

Date: Fri, 04/02/2010 - 05:31

Submitted by anonymous
on Fri, 04/02/2010 - 05:31

Posts: 202330 Credits: [Donate]

Total Replies: 4


Collection agency offered for me to settle the debt at a discount. I would pay $5000 of the $9500 owed. I do not work due to lay-offs but I do have a few hundred dollars saved up. Is it possible to settle for a lesser amount (say like $1100) and if so, how would I go about doing it. Also, when I do settle, how long will this stay on my credit report? Thank you.


the best bet for the lowest settlement in your situation is to show proof of your situation. show them copies of U/E if you receive it. be able to document why they should jump on your offer. that said you are offering 12% as a settlement, and thats really low. is there a judgment against you? if so that would work greatly against you and i wouldnt hold hope for your offer. if not you have more leeway. last tip - you just missed your best chance to settle - the end of the month is the time collections agencies push to hit their collections goals and that is the time you will get the best deals. so take that into consideration.


lrhall41

Submitted by on Fri, 04/02/2010 - 09:12

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I've been paying on a credit card at rate agreed upon many years ago. I have never been late but they continued to add fees. I now owe $2,127.00 and last month they refused my payments and sold it to MCM. I have paid over $4,000. on the original limit of $1100. Any suggestions what I can do? I'm on a very limited budget, don't own anything, and have no savings.


lrhall41

Submitted by on Fri, 04/02/2010 - 09:56

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